Uncle Sam, landlord, looking for help

By Eliza

Aug 10, 2011 12:03pm

ABC News' Ann Compton (@AnnCompton) and Mary Bruce (@marykbruce) report:

Uncle Sam is landlord for at least 90 thousand homes that owners lost to foreclosure, and tens of thousands more in the pipeline as families are evicted and properties are appraised.

Uncle Sam is looking for help.

Today  the Federal Housing Finance Agency (FHFA) is asking for information from industry and the public on what might be done with the inventory currently held by mortgage giants Fannie Mae, Freddie Mac, and the Federal Housing Administration.  The point is also how to  help neighborhoods where too many homes are in foreclosure, sometimes empty and unkempt, lowering  values on the whole block.  

One option: turning foreclosures held by the government into rental homes.  That way, cheap foreclosures would not compete with other houses on the sales market.  Local companies would probably be asked to manage any government rentals.

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